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20131202
20131210
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Search Results 0 to 20 of about 21 (some duplicates have been removed)
, and foreign aid had far exceeded our receipts. why did this payments deficit occur? dr. joan spero, senior vice-president, corporate affairs at american express. a payments deficit emerged in the late 1960s for three fundamental reasons. the u.s. economy was heating up due to the war in vietnam and due to expenditures on the gat society, and had inflaon at home. as the dollar became overvalued, we began to suck in more imports and we began to export less in relation to imports. so we went into "balance of trade" deficit, finally, in 1971. and the third factor is the capital outflows from the u.s., which continued throughout the 1960s for investment reasons and for financial flows. schoumacher: where a decade before there had been an international dollar shortage, now the world faced a dollar glut. this overwhelming supply of dollars piled up in the vaults of foreign central banks. these banks began to redeem dollars for american gold. between 1964 and 1966, u.s. gold reserves dropped by $2 billion. e u.s. really d not know what to do about the dollar in the late 1960s, and the europeans d
was expected. that has affected the fiscal position. by this time, the forecast was that the budget deficit would be 60 billion pounds. it is 120 billion pounds. that was supposed to start coming down in 2015. it will not peak until two years later. the fact that the economy has not recovered as fast as projected has caused the budget deficit problem to become much worse than it would've been had the economy grow faster. you might say that was just bad luck. i think the slow recovery, almost lack of recovery for two years, was a result of the austerity policy. a recovery,we have does austerity make more sense? placet faith can we in the new forecast? we were supposed to grow two point four percent this year. it will be about 0.8%. >> they are revising the incomes around 1.5%. >> ok. things are improving. then you go forward to the next year in the year after. then you have to ask what are the drivers of a broad-based recovery going to be? i think that it is very narrow. prices, assets, and some parts of the country. >> the government has announced plans to spend more on infrastructure. do y
it has been the first time in a number of years. talk about a deficit. we will see if we have anything that has not been leaked to the market. we have a statement and there is a bit in this statement. joining later with the details. >> we have the forecast from the ecb >> it is higher. do not expect that from the ecb. the rate policy could go and it surprised everyone. is that the ecb has more work to do. >> we have corporate news. >> keep a look on the luxury markets. it could go a little bit higher. shares and weo .5 see it down. it is more luxurious. it is dependent on europe. and it is in the wholesale market. you let's go to our international correspondent. gaining mobile may be state approval for a new license. that could mean assets and 8 million subscribers. the next month, the iphone is on sale. >> thank you so much. a center and a stamp of approval from regulators in china. general motors is rolling chevrolet. out andputting a note charges 700 million in to the european companies. it is focusing on this. we will have more on this car sector later today you have the s
that was quite worrying, the good news regarding the fiscal deficit is only cyclical. get us growth slowdown going forward, we might not see the fiscal contraction of the deficit that we really need. essentially our spending habit 's have not changed that much. we have been in austerity for so long, it was a shame that it was not more structural change. >> what does it mean for sterling capitol when you look at the top 10 currencies. this is against the other nine. can its strength continue. >> it depends on the bank of england. if it threatens the inflation target of two percent, we have target. inflation and this could force the hand because the strong pound could all of a sudden having a real problem of their policy. now, there is a real threat of that sum will push this into deflationary territory. is that real concern for the bank of england? >> it is not on their forecasts at the moment that we have seen such a huge appreciation of sterling already. at 164 level does look very sticky. it will take a little to push us up there. if we were to see a 500 moving. >> thank you. we will get h
are critically and reduction of the deficit. he would reduce the deficit by 10%. the hope is he can do more on that. have a lot of married couples and free school meals for kids. of course, the tapering with energy -- what will the impact be? [laughter] >> we would not want you to be chilly. that was manus cranny live from westminster. we will bring you a speech -- osborne's speech live. >> the ecb will publish its decision following last month's surprise rate cut. focus will be on mario draghi. here witherro is details. >> it is hard to follow manus cranny. [laughter] let's talk about these forecast. a reason many people thought they would cut a rate this month and not last month. the rate cut would come with the company forecast. what we will get is something as bright as the u.k.'s forecast. they currently predict one percent growth for next year at inflation is at 1.3%. that is well below the 2% target. it is important. it might sound a long way off. we know that dally on swift guidance -- dalliance on guidance -- you might get some color on that. >> and deflation, is that justified? we
. had he to raise taxes in order to cut the $11 billion deficit. raising taxes is not something that's designed to make you very popular as well as cutting government spending. i spoke with the finance minister and he's pretty b buoyant. the public outcry on that, people are pretty pleased. i did ask him, is this just kicking the can down the road. take a listen. >> we have to reduce government expenses in a way that will not hurt all the services we want to give to the government. the fight for efficiency in all the governments around the world is a hard fight. we know now things we didn't know before about how to do it because we've been doing it for quite a while. this is why things are better now. i think we're going to have a new fiscal rule which will allow us to reduce government expenses in a way that will allow us not to raise taxes. >>ing where do you see that in order not to raise taxes in 2014, 2015. >> i can tell you we're not going to hurt the budgets of education because we are an education modulated government and of course health and welfare. these are the budgets th
retreated to a seven-week low after the country posted a bigger than expected trade deficit in october. but india as performed opposed strong opposition. now for individual movers, chinese telecom equipmentmakers succumbed to profit taking. zte tumbled almost 6%. meanwhile datang telecom down almost 7%. just one day after the issuing of these licenses, a deal is signed between apple and china mobile. according to "wall street journal," this could mean china's largest telco could start to offer isos on its network to 700 million subscribers. it could potentially draw a larger custoday. it's competitor gained 0.25% in china telecom. back to you, ross. >> thanks very much for that, sixuan. carl icahn announcing a tweet that he would submit a proon posal to apple shareholders for a 50 billion buyback program. that's lan than the 150 become buyback program he was previously pushing for. >>> well, we have heard from the japanese economic minister, amari, it was he's been with early stage tongue cancer. he's offered to resign, but the prime minister has refused his request. he remains in the
the economy because it is growing, he cannot ask about the deficit because it is falling. he cannot ask about the numbers in work because they are rising. people can see that we have a long-term plan to turn our country around, and people can also see him sitting in his room, desperate for bad news to suit his own short-term political interests. >> one in eight men will be diagnosed with prostate cancer, the silent killer of middle-aged men. survival rates have risen from 30% to 80% because of breakthroughs in genetics, diagnostics, and drugs, and because of charities such as movember, which has gone from five blokes raising $500 to the world's biggest prostate charity raising $300 million. will the prime minister agree to meet me and representatives of uk research charities to see what we can do to make the nhs adopt innovation more quickly? >> my hon. friend raises a very important issue. everyone wants to see more research and better outcomes for prostate cancer. may i personally praise him for that magnificent growth on his top lip? i have noticed the number of my colleagues, suddenly res
all they have said about reducing the deficit over the next few years, it leaves room for cutting taxes. i think what the uk needs is a rebalancing towards investment and exports. the government realizes this and i think as a consequence it's unlikely to do things to throw additional fuel on the fire of consumption. >> do you think the government is doing enough? are you expecting any measures, say, on planning tomorrow from the troika? would that have helped? we had construction pmis this week very strong, rising like a phoenix out of the ashes. but many suppliers saying the supply side of that market is still very, very underperforming. >> yeah. i mean, when it comes to the supply side of the uk housing market, it really is down to things like change, having a look at the green belt legislation, trying to, you know, incentivize local authorities to watch the yen gauge much more heavily in this planning process than they have up to now. so it's not really about major macro reforms. i think it's about reforming the supply side of the housing market. that's going to take many years
the surplus but they also share the deficits so if there is a regional deficit, the pain will be shared in terms of frankly rolling blackouts if it comes to that. we can hope for a cool summer in the summer of 2016 that's not necessarily a prudent approach. with that i would be happy to answer any questions. >> our next witness is mr. john morrissey and you are recognized for five minutes. >> good morning chairman, ranking member and members of the subcommittee for holding this hearing and the opportunity to testify. as i acknowledged there is a significant change occurring on the energy landscape. the operation in america has experienced only a modest incremental change over the last decades yet in recent years the development of new technology is bringing much more rapid change to the system that can't be disruptive. i think embracing these changes will allow a much more efficient utilization of energy resources. the challenge before us is to enable the system to be more efficient through the utilization of technology and foster the development of a diverse set of competitive energy r
-- if you want to keep a deficit the way it is, you need to find some way to save money elsewhere if you're going to boost spending for the next two years which is what they're talking about. they're talking about cutting spending over a longer time frame in other areas. one area they might ask federal employees to pay a little more for their pension plans. another possible rumored area is they might hike the fees for airline security. now we don't know the exact details of these, and in some ways that's actually a good sign. the fact that a lot of these proposals aren't really leaking in their specifics means that the talks are still ongoing and that they're still productive and you know, a couple of people have said, once you start hearing these damaging leaks about oh, this isn't it or democrats are proposing this that's when things are falling apart. >> brad let me ask you, what are the chances of this deal as it's taking shape now passing both chambers, i'm particularly talking about the house, if you talk about fees that's easily construed as a tax. >> the house is a tricky part. t
problems that do threaten the moral drift and cognitive and scholastic deficits, the healers, social reformers and confidence builders, do not have the answers. on the contrary, they stand in the way of a genuine solution. >> yes. i'm not saying that we don't have problems in our schools, even though i don't think that boys are pathological, i do think that there is evidence that they need character education as girls do as well. as most societies know, it takes more effort to socialize a young man and young boys who are morally neglected, and in most societies, they invest a lot of effort into civilizing young man. in our schools there has been a decline of character education and moral education and replacing it with things like self-esteem programs, various programs that are doubtful and merit. and we have a tried-and-true method of civilizing boys, good sportsmanship they can get from their coaches, most of all from parents, and we've kind of moved away from that. the second problem with boys, is that i believe they have become second-class citizens in our schools. and the proble
problems that do threaten childrens' prospects, their moral drift, cognitive and scholastic deficits, the healers, social reformers and confidence builders don't have the answers. on the contrary they stand in the way of genuine solutions. >> yes. i am not saying we don't have problems in our school. i don't thing boils are pathological but there is good evidence that they need character education and girls do too. most societies know that it takes more effort to socialize a young man and young boys who are morally neglected. very unpleasant ways of doing this, i have noticed. most societies in just a lot of effort into humanizing, civilizing young men. what i have seen is in our school there has been a decline of character education and moral education, move replacing it with things like self-esteem programs, various therapeutic approaches that are -- we have a tried and true method of civilizing boys. it is through good sportsmanship, they can get from their coaches and moral guidance from parents, but reinforced by teachers and moved away from that. i believe now boys have become
quarters gym a football. come back with 27 point deficit and they beat toronto. good stuff. >> thanks very much larry. >> has this edition of 7 news hear on coffee tv 20. here's hear on coffee tv 20. here's all of us i'm dan ashley thanks pelton [over pa]: it's hard to believe finals are here. and i know during this stressful time, my voice blaring over a pa can't help. which is why, for the next three days, you'll hear nothing but soothing sounds of nature.
for the footprint and recall that under the miso agreement they all showed a surplus but they also share the deficit. so if there's a regional deficit, the pain will be shared in terms of frankly rolling blackouts if it comes to that. we can hope for a cool summer in the summer of 2016, but that's not necessary a prudent approach. so with that i would be happy to answer any questions at the appropriate time. >> thank you, mr. moeller. our next witness is mr. john norris. you are recognized for five minutes. >> good morning, chairman whitfield, ranking member mcnerney, and members of the subcommittee. thank you calling this thing. and the opportunity to testify. as i acknowledged in a written test with their significant changes occurring on our energy landscape. the operation of our energy system in america has experienced in my view only modest incremental change over the last many decades. yet in recent years the rapid development of new technologies is bringing much more rapid change to the system. that change can be disruptive. i think embracing these changes will allow a much more efficient util
.s. current account deficits since 1999 shows the trend and the discovery of new domestic sources of oil and gas, it reinforces this issue. the country is spending less on imported energy." you can read the full story on bloomberg's website. the front page of "the pittsburgh post-gazette" -- a look at some of the victims from one year ago and a story that will likely get a lot of attention in the week ahead. this is from "the detroit free press" -- you can get more information by logging on to freep.com. next is robert from massachusetts. decline andre in the reason is because we, as a viewed -- when the world our opinion not to go to war, we would not go with our allies. we are ia country that has of thed because one world sees our moral fabric has declined, that is a decline any way. when bush stole the election world looked the --it is not a has way we go about the world. said we havellers the most disrespected presidents. how does the worldview that? it is a holy mentality. then you look at what happened in wall street, the greed that is going on. this is all that. we are meddling in
taking office, he faced a largest per capita deficit in the country. total debt of about $3.5 billion. before taking office, he did several terms as mayor of stanford, connecticut from 1995 to 2009. and what's particularly relevant today for this conversation is promising to make 2012 the year of education in connecticut. he tackled reform agenda and a state long been known for one of the nation's widest racial achievement gaps. and the governor took the lead of passing one of the nation's more dramatic education bills signed in maif of 2012. it was public act 12116 and act concerning education reform. some of the packages most significant features required a new teacher evaluation pilot in which 5% of the evaluation will be based on student learning. the governor's package created a commissioner's networking similar to the recovery school direct in louisiana. which is the ability to take authority over 25 of the state's lowest performing schools to date. 11 have been entered to the networking. and increased per pupil charter school funding to $10,500 in fiscal 2013. it will go to $11
't want to -- hold on, says the talk about. let's make up the deficit. and he begins to haul out yeller boys out of his pocket. it's a most amazing good idea, duke. you have got a clever head on you, says the king. blessed if you ain't helping us out again, and he begun to haul out yeller jackets and stack them out. they made up the 6,000 clean and clear. says, say the -- say, says the duke, let's count this money and then take and give it to the girls. good land, duke. let me hug you, it's the most dazzling idea ever a hand struck. you certainly got the most astonishing head i ever seen. oh, this is the boss dodge. there ain't no mistake about it. let 'em fetch along their suspicions now if they want to. this'll lay 'em out. i don't know where i am, but i'm pretty close to ten. but as you might expect, they get -- [inaudible] because the two real heirs show up. [laughter] [applause] so anyways, thank you. >> it's really nice to see how bad guys get their comeuppance, at least in fiction if not always in real life. our next reader is peter -- [inaudible] peter is a poet and a volunteer
, finding a little bit of deficit reduction. here's the key thing to focus on, though, right now, alex. the tone. there doesn't seem to be an appetite for another government shutdown. that, of course, bodes well for the economy and washington in general. take a listen to what two lawmakers had to say earlier today. >> keep the budget caps in place, not raise taxes, which is important during this weak economy, and actually avoid a government shutdown. so i'm hopeful that even by the end of this week we'll be able to come together and achieve that. >> i certainly hope as part of it that the negotiators will take to heart what the president had to say. there are working families across america that are struggling. there are unemployed families who need a helping hand. we've got to protect and preserve the safety net in america and give these working families a fighting chance. >> so alex, of course there you have republican rob portman, democrat dick durbin. and you heard senator durbin talking about unemployment insurance. that is still the main sticking point. democrats, the president w
that deficit of caloric intake. >> we have a camera. >> stop. >> wow. >> they're solving your first world problems, there you go. >> another issue you've been looking at is educational disruption. we've been talking about that, where do you think the winners are? >> that was on camera. is that my age or iq? >> i'm terrified of buying the ulta vista of this. the entrenched -- all the reasons that this part of the economy has failed to adapt are mostly still in place. . i think it'll take a while to unwind and fix itself. we haven't put our bets down on that trend but it's going to be big, it has to be. >> what has to happen before you'll put money on the table for this? >> you know, a lot of people say there's not a lot of money in that because they're college students. come on, that's b.s., budweiser makes a lot of money. we find someone who is making money. >> i think you look good. i do. >> -- a revision to the third quarter gdp. rick santelli standing by in chicago. take it away. >> all right. our second look at third quarter gdp is off the charts out of expectation range. 3.6, 3.6. he
Search Results 0 to 20 of about 21 (some duplicates have been removed)